I managed to find a solution as to why the slide navigation wasn't working. It was simple luckily, I just added the latest version of jQuery and jQuery-UI to the functions.php file using the enqueue method and it solved the problem for me.

Sorry for the delay on this. Kiseki Studio is correct: definitely make sure you're enqueing the latest version of jQuery. Your theme doesn't look like it's doing anything wrong, so that'd be my guess. Cycle2 can be a little bit of a pain when it comes to the version of jQuery you're using (I personally prefer Cycle1, and may look into reverting for future versions of Total Slider).